Japanese copper and zinc miner Dowa Holdings has raised its net sales forecast by 21.9pc to JPY780bn ($7.1bn) for FY2021 (ending March 31, 2022) in anticipation of a stronger order book for its major products. The company also lifted its operating income outlook by 31.8pc to JPY58bn compared to the previous forecast of JPY44bn.
Net sales forecast for H1 FY2021 has increased by 28.1pc to JPY397bn from JPY310bn while the operating income outlook for this period was raised by 61pc to JPY33.8bn from JPY21bn.
In FY2021 the company expects the net sales of non-ferrous metals to rise to JPY409bn from JPY308.5bn estimated in the previous outlook while net sales of non-ferrous metals in H1 FY2021 are projected to rise to JPY206bn from JPY150.4bn.
In the metal processing division, Dowa Holdings expects net sales to grow to JPY102.3bn in FY2021 from JPY83.4bn as previously forecast while the metal processing division sales are estimated at JPY56.3bn against JPY40.6bn.
In Q1 FY2021 the company’s net sales of non-ferrous metals grew to JPY118.2bn from JPY60.4bn in Q1 FY2020. Net sales in the metal processing division in Q1 FY2021 increased to JPY26.4bn from JPY14.9bn in the same quarter in FY2020.
The non-ferrous metal miner’s operating income in Q1 FY2021 rose to JPY19.6bn from JPY4.9bn in Q1 FY2020.